TSB cuts smaller deposit mortgage rates.
The TSB has announced rate cuts to help first time buyers and those with lower deposits. The lender advises rates have been cut by up to 0.4% in a bid to make monthly repayments lower.
We may well see more rate cuts at this end of the market, as the likelihood is buy to let purchases may slow down after the pre-April rush to climb on the property investment ladder.
With many landlords having pushed forward their buy to let purchase in advance of the stamp duty increase, lenders are likely to want to attract residential buyers to plug the gap we may see in the market caused by landlords buying early in the year before the stamp duty hike.
TSB range highlights include:
- A 90% LTV at 2.79% with a £995 fee.
- A 90% LTV at 3.19% fee free.
In addition, 5 year deals from the lender have been cut by up to 0.25% and 10 years fixes by 0.20%.
If you would like to review the lender’s entire range, with a comparison against the wider market, call us at Deal Direct on 0800 048 8828. We can help you climb on the property ladder, move to a new home, purchase a buy to let or remortgage to a lower rate or consolidate debt.
For a ‘whole of market’ search, free independent advice and a low rate quote, call and speak to one of our advisers today.
Call us on 0800 048 8828.
